Israeli Court Rejects Bistricer’s Murchinson Motion In Lawsuit filed by Nano Dimension respect to their Ilegal Shareholder Meeting
March 13 2023 - 03:31PM
Nano Dimension Ltd. (
Nasdaq: NNDM, “Nano
Dimension” or the “Company”), a leading supplier
of
Additively
Manufactured
Electronics
(“AME”) and multi-dimensional polymer, metal &
ceramic
Additive
Manufacturing
(“AM”) 3D printers, announced today that the Israeli court decided
that the preliminary hearing on the Company’s Statement of Claims
filed against Marc Bistricer’s Murchinson, and its affiliates
will be held as scheduled on June 18th, 2023. The
court provided this decision further to Murchinson's motion to set
an urgent court hearing and to shorten the procedures deadlines in
order to reach a judgement before the date of the illegal
Shareholder Meeting Murchinson called.
The court determined today that although it is
within its authority to shorten deadlines, Bistricer’s Murchinson
motion to expedite the hearing was rejected and
the preliminary court hearing date remained as scheduled on June
18th, 2023.
As previously announced on January 30th, 2023
and on February 23rd, 2023, the notice of a special general
meeting of the Company’s shareholders issued by
Murchinson is invalid and failed to comply with
requirements under applicable law, and therefore the Company filed
its lawsuit in the courts in Israel seeking a declaratory judgment
that the Murchinson meeting is illegal and seeking $10 million
damages in relation to Murchinson’s illegal and bad faith
actions.
Moreover, it is important to note that any
cooperation with the illegal Shareholder Meeting
is a direct violation of the Depository Agreement between
the Company, Bank of New York Mellon (the depositary) and the ADS
holders, as well the Company's Articles of
Association.
The Nano Dimension Board of Directors urges
shareholders to take no action and disregard any materials or WHITE
proxy cards they may receive. Nano Dimension will inform its
shareholders if and when a valid and duly called meeting will be
held.
The Nano Dimension Board of Directors and management team are
committed to continuing to act in the best interest of the Company
and all of its shareholders and in accordance with the applicable
laws and regulations, as well as with the Company’s Articles of
Association.
About Nano Dimension
Nano Dimension’s (Nasdaq: NNDM) vision is to
transform existing electronics and mechanical manufacturing into
Industry 4.0 environmentally friendly & economically efficient
precision additive electronics and manufacturing – by delivering
solutions that convert digital designs to electronic or mechanical
devices - on demand, anytime, anywhere
Nano Dimension’s strategy is driven by the
application of deep learning-based AI to drive improvements in
manufacturing capabilities by using self-learning &
self-improving systems, along with the management of a distributed
manufacturing network via the cloud.
Nano Dimension serves over 2,000 customers
across vertical target markets such as aerospace & defense,
advanced automotive, high-tech industrial, specialty medical
technology, R&D and academia. The company designs and
makes Additive Electronics and Additive Manufacturing 3D
printing machines and consumable materials. Additive Electronics
are manufacturing machines that enable the design and development
of High-Performance-Electronic-Devices (Hi-PED®s). Additive
Manufacturing includes manufacturing solutions for production of
metal, ceramic, and specialty polymers-based applications - from
millimeters to several centimeters in size with micron
precision.
Through the integration of its portfolio of
products, Nano Dimension is offering the advantages of rapid
prototyping, high-mix-low-volume production, IP security, minimal
environmental footprint, and design-for-manufacturing capabilities,
which is all unleashed with the limitless possibilities of additive
manufacturing.
For more information, please
visit www.nano-di.com.
NANO DIMENSION INVESTOR RELATIONS CONTACT
Investor Relations | ir@nano-di.com
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